Cydia

BitSplit has updated this great program to be compatible with iPhone firmware version 1.1.1. What does it do? Everything.

Jailbreak - works from either 1.0.2 or 1.1.1 and is super easy, just with a click of a button. It'll prompt you through all the steps that you need to be involved in.

Ringtones - This is the ultimate OSX iPhone ringtones program. You can just upload your current already cropped and cut ringtone straight to your 1.1.1 phone. Whats more is iFuntastic now includes a ringtone maker and cropper built in. Easily take your songs and trim them up for a ringtone!